Press Release From the Orco Property Group's Board of Directors

PARIS, April 7, 2010 - The Board of Directors of Orco Property Group S.A., chaired by
Jean-François Ott, has taken act of the request to convene an Extraordinary
General Meeting (EGM) with a shareholders concert composed of Millenius
Investments SA, Clannathone Stern SA and Bugle Investments Ltd hold 10.09% of
voting rights. The Board of Directors shall therefore convene an EGM to be
held on April 26th, 2010 at 4pm in Capellen, Luxemburg.

This concert of shareholders wants to relieve the present Directors from
their duties to replace them with a new team to be chaired by Mr. Jean-Pierre
Mattei.

The Board underlines the hostile character of this intention, which was
not preceded by any contact between the company management and
representatives of the concert. Given the current context, the Board is
surprised by such unfriendly and opportunistic process, which is detrimental
to the interests of the Company, its teams, its business partners and
shareholders.

The Board reiterates its full confidence in the Management, who has put
forward a comprehensive restructuring plan which should now be now peacefully
executed.

On April 7, 2010, the Board of Directors of Orco Property Group SA

    Press contacts

    Financial Dynamics
    +33-(0)1-47-03-68-10
    Guillaume Foucault / Nathalie Baudon
    Guillaume.foucault@fd.com / nathalie.baudon@fd.com

Press contacts: Financial Dynamics, +33-(0)1-47-03-68-10, Guillaume Foucault / Nathalie Baudon, Guillaume.foucault at fd.com / nathalie.baudon at fd.com